If you own a new small business in Denver, you might be exempt from personal property tax, in accordance with §39-3-119.5 Colorado Revised Statutes. Under this law, you will not be required to file an annual personal property declaration if the total actual (market) value of all your personal property in Denver (owned and used for your business) is $50,000 or less. However, if your business is new to Denver and you have never filed a personal property declaration with the Denver Assessor's Office, please file a listing of all of your company's machinery, equipment, furniture and other personal property. To confirm your exempt status the Assessor's Office must first verify whether you do qualify and then your business will be flagged as non-taxable.
New business owners are often unaware of the basic rules and procedures regarding the personal property assessment process. For more information call the Personal Property Section at 720-913-4067.